Legal Question in Real Estate Law in Illinois

Eviction

I signed a buy back contract and due to job loss, have not been able to purchase home back, under convientional means. A buyer who allowed us to use her name for credit for fee is weary of contract. We have been late, due to large APR jumps. Not behind yet, but this month may be the end of the road for us. The person that we used her name wants to give property back to mortage company. Taxes are current. Foreclosure could happen or she can just return property to mortgage company, how much time before mortgage company evicts us? We do want to keep house, but just not qualifing for mortgage at this point. Please help. Thank you!


Asked on 2/04/09, 4:48 pm

1 Answer from Attorneys
Nicholas Chrisos Nicholas G. Chrisos Attorney at Law

Re: Eviction

If the property goes through the foreclosure process, it could take up to a year from the time of the first missed payment until the Sheriff shows up. But if she turns the property over or something unexpected happens in court, it could be less. The safest thing to do is show up in court when the case is up to see what's going on and to try to buy more time.

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Answered on 2/10/09, 10:23 am


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